Eli Lilly and Company (NYSE:LLY) is Indie Asset Partners LLC’s Largest Position

Indie Asset Partners LLC decreased its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 1.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 59,825 shares of the company’s stock after selling 880 shares during the quarter. Eli Lilly and Company comprises approximately 36.3% of Indie Asset Partners LLC’s holdings, making the stock its biggest holding. Indie Asset Partners LLC’s holdings in Eli Lilly and Company were worth $46,185,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of LLY. Geode Capital Management LLC grew its holdings in shares of Eli Lilly and Company by 0.5% during the third quarter. Geode Capital Management LLC now owns 17,090,971 shares of the company’s stock valued at $15,089,563,000 after purchasing an additional 85,823 shares during the last quarter. International Assets Investment Management LLC boosted its stake in Eli Lilly and Company by 87,091.7% during the third quarter. International Assets Investment Management LLC now owns 12,463,182 shares of the company’s stock valued at $11,041,631,000 after buying an additional 12,448,888 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Eli Lilly and Company by 2.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,115,504 shares of the company’s stock valued at $5,417,970,000 after purchasing an additional 157,741 shares in the last quarter. Fisher Asset Management LLC grew its holdings in shares of Eli Lilly and Company by 3.5% in the 3rd quarter. Fisher Asset Management LLC now owns 5,058,101 shares of the company’s stock worth $4,481,175,000 after acquiring an additional 169,391 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its stake in Eli Lilly and Company by 0.6% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,954,047 shares of the company’s stock valued at $1,731,168,000 after buying an additional 12,044 shares in the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on LLY. Bank of America restated a “buy” rating and issued a $997.00 price objective on shares of Eli Lilly and Company in a report on Tuesday, December 10th. Deutsche Bank Aktiengesellschaft cut their price objective on Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating for the company in a report on Monday, November 4th. Truist Financial lifted their price objective on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Wells Fargo & Company decreased their price target on shares of Eli Lilly and Company from $1,000.00 to $970.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Finally, Barclays lowered their price objective on Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. Three analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat, Eli Lilly and Company has an average rating of “Moderate Buy” and an average target price of $1,007.94.

Eli Lilly and Company Stock Performance

Eli Lilly and Company stock opened at $874.12 on Friday. The stock has a market cap of $829.82 billion, a PE ratio of 74.65, a P/E/G ratio of 1.39 and a beta of 0.42. The company has a quick ratio of 0.97, a current ratio of 1.27 and a debt-to-equity ratio of 2.03. The business’s 50-day moving average price is $801.33 and its two-hundred day moving average price is $846.75. Eli Lilly and Company has a 12-month low of $711.40 and a 12-month high of $972.53.

Eli Lilly and Company (NYSE:LLY) last announced its earnings results on Thursday, February 6th. The company reported $5.32 earnings per share for the quarter, missing analysts’ consensus estimates of $5.45 by ($0.13). Eli Lilly and Company had a return on equity of 86.26% and a net margin of 23.51%. As a group, analysts expect that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company announced that its board has approved a stock buyback plan on Monday, December 9th that allows the company to buyback $15.00 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 2% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its shares are undervalued.

Eli Lilly and Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be given a $1.50 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.00 annualized dividend and a yield of 0.69%. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s payout ratio is currently 51.24%.

Eli Lilly and Company Profile

Eli Lilly and Company discovers, develops, and markets human pharmaceuticals worldwide. The company offers Basaglar, Humalog, Humalog Mix 75/25, Humalog U-100, Humalog U-200, Humalog Mix 50/50, insulin lispro, insulin lispro protamine, insulin lispro mix 75/25, Humulin, Humulin 70/30, Humulin N, Humulin R, and Humulin U-500 for diabetes; Jardiance, Mounjaro, and Trulicity for type 2 diabetes; and Zepbound for obesity.